TaxTMI 
TaxTMI 
Power to pay certain commissions and prohibition of payment of all other commissions, discounts, etc.
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....pay a commission to any person in consideration of__ (a) his subscribing or agreeing to subscribe, whether absolutely or conditionally, for any shares in, or debentures of, the company, or (b) his procuring or agreeing to procure subscriptions, whether absolute or conditional, for any shares in, or debentures of, the company, if the following conditions are fulfilled, namely: ___ (i) the pay....
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....n the prescribed form[1] signed in like manner as a statement in lieu of prospectus and filed before the payment of the commission with the Registrar and, where a circular or notice, not being a prospectus inviting subscription for the shares or debentures, is issued, also disclosed in that circular or notice; [2][* * *] (iv) the number of shares or debentures which persons have agreed for a com....
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....res in, or debentures of, the company, whether the shares, debentures or money be so allotted or applied by being added to the purchase money of any property acquired by the company or to the contract price of any work to be executed for the company, or the money to be paid out of the nominal purchase money or contract price, or otherwise. (3) Nothing in this section shall affect the power of any....
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....res of, the company and before the issue of the prospectus or statement in lieu thereof any other person or persons has or have sub­scribed for any or all of those shares or debentures and that fact together with the aggregate amount of commission payable under this section in respect of such subscription is disclosed in such prospectus or statement, then, the company may pay commission to the....